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Consider the following information: Probability of State of Rate of Return if State State of Economy Recession Normal Boom Economy 0.11 0.45 0.44 Occurs 0.07

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Consider the following information: Probability of State of Rate of Return if State State of Economy Recession Normal Boom Economy 0.11 0.45 0.44 Occurs 0.07 0.12 0.31 Required: Calculate the expected return

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